U.S. factories breeze through summer, still on upswing

American factories are pumping out goods at the fastest rate in several years. Better yet, there’s no sign that production is about to slow.

Factory orders are forecast to jump nearly 11% in July, according to a survey of MarketWatch economists. The report will be released at 10 a.m. Eastern.

The expected surge in July is likely to be propelled by orders for new aircraft, a volatile category that can jump up and down from one month to the next. Autos may also figure into the increase. Yet even if transportation is stripped out, orders for U.S. manufacturers have rebounded nicely since last year.

In June, for example, orders reached a record high. Companies in every manufacturing sector except for textiles appear to experiencing an uptick despite little growth in exports. Much of the demand is being driven an improved U.S. economy.

Later in the day, sales of autos are forecast to rise slightly after a dip in June. Auto sales have been very strong over the past few years, however, as Americans replace aging vehicles and take advantage of low interest rates.

The Federal Reserve, meanwhile, will release its periodic assessment of the economy known as the Beige Book at 2 p.m. The Fed also sees the economy improving at a steady clip, with the central bank poised to raise short-term rates in 2015 if there’s no slowdown.